XPeng continued to increase its electric vehicle deliveries in August, reaching the best monthly result so far this year.
The Chinese company delivered 13,690 all-electric vehicles, which is 43 percent more than a year ago and actually the first month of year-over-year growth since August 2022.
This breaks the 11-month-long period of year-over-year sales decrease and soon we might see new sales records.
The overwhelming majority of XPeng sales are in China.
XPeng does not report individual model sales results, beside of the all-new, all-electric G6 model, which noted 7,068 units in August and over 11,000 cumulatively.
The XPeng G6’s result is very positive, however, it also means that all of the other models in the lineup noted 6,622 deliveries last month, which is 31 percent less than a year ago. That’s probably the main issue, as a single new model is responsible for the majority of sales.
Xpeng sales last month:
- G6: 7,068 (new)
- non-G6 EVs (G3/G3i, G9, P5, and P7/P7i): 6,622 (down 31% year-over-year)
- Total: 13,690 (up 43% year-over-year)
So far this year, XPeng BEV deliveries amounted to over 66,000, which is 27 percent less than a year ago.
Xpeng sales year-to-date:
- Total: 66,133 (down 27% year-over-year)
For reference, in 12 months of 2022, XPeng’s electric car sales exceeded 120,000 units:
Cumulative deliveries of XPeng electric vehicles as of the end of the month amounted to 324,843.
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In recent months, XPeng announced a long-term strategic partnership with Volkswagen in China (joint development of two B-class battery electric vehicles, which will be sold under the Volkswagen brand), as well as with DiDi (affordable, new EVs for ride-hailing company). Volkswagen acquired about a 5 percent stake in XPeng through a $700 million investment, while DiDi holds 3.25 percent with an option to increase its stake to over 5.2 percent.
It seems that the Chinese company is seeking additional revenue streams for its electric car business, but only time will tell whether it will pay off.
